Sustaining Servings: Taxation Issues for a Growing Business

Published on 19 Oct 2007
| Took place at Grand Chancellor, Hobart, TAS

Sustaining Servings was a well balanced program that focused on taxation.

The areas covered included superannuation, the latest round of Division 7A changes, CGT small business concessions, an examination of employees and independent contractors, ways to finance a growing business and extracting value from a business.

Small business CGT concessions

Author(s):
Paul INGRAM

Two press releases issued by the Treasurer as part of the May Federal Budget (Nos. 038 and 039) proposed some important changes to the CGT Small Business Concessions, which significantly expand their scope. This presentation examines the proposed changes, including the following:

Changes to apply from 1 July 2006

$5m maximum net asset value test

active asset test

SB CGT Affiliates

significant individual test

application of the concessions in the event of death of significant individual

changes to specific concessions

changes to apply from 1 July 2007

$5m threshold to increase to $6m

STS taxpayers to qualify regardless of $6m threshold.

Materials from this session:

Superannuation: key issues

Author(s):
Bryce FIGOT

The new super rules require us to rethink all strategies to provide value added advice for our clients. This paper examines some of the key areas that practitioners need to be on top of to plan tax effectively for their client’s super needs.